Thursday, Jan 28, 2010
Who will clear up this mess?
Telegraph: UK gilts 'are resting on a bed of nitroglycerine': so what are the Tories saying about this?
"So much for the Conservatives being the party that can be trusted with the economy. Lord Forsyth’s recent remarks that it should be possible to save £75bn of public spending over a parliament and that taxes should not go up are an isolated voice of reason, suggesting remedies that the markets will take seriously; but they find no echo among the Tory high command. Britain has been bankrupted by its politicians and the current drawing us towards the plughole is now building an irresistible momentum."
Posted by quiet guy @ 12:32 AM (775 views) Add Comment
6 Comments
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1. Freemanphil said...
"“Gilts are resting on a bed of nitroglycerine,” he wrote (why does he not come off the fence and say what he really means?). “High debt with the potential to devalue its currency present high risks for bond investors.” He described the UK “with the highest debt levels and a finance-oriented economy” as being “exposed like London to the cold dark winter nights of deleveraging”. He recommended Canadian or German government bonds to investors."
Regarding the article above about gold, to note, devaluation is BULLISH gold. And the money CAN'T be paid back without devaluation. If we default, we get defacto devaluation with a run on the pound.
2. freemanphil said...
"“Gilts are resting on a bed of nitroglycerine,” he wrote (why does he not come off the fence and say what he really means?). “High debt with the potential to devalue its currency present high risks for bond investors.” He described the UK “with the highest debt levels and a finance-oriented economy” as being “exposed like London to the cold dark winter nights of deleveraging”. He recommended Canadian or German government bonds to investors."
Regarding the article above about gold, to note, devaluation is BULLISH gold. And the money CAN'T be paid back without devaluation. If we default, we get defacto devaluation with a run on the pound.
3. freemanphil said...
Aha, I just found out why gold is so low. Yesterday was the last day of options expiration on COMEX. The cartel suppresses prices at this time more than any other. It'll be back up again by next week.
4. matt_the_hat said...
Which politician when GDP is 50% from the public sector is going to announce swinging cuts! UKSR (UK soviet republic) is filled with civil servants saving the planet with their green jobs (its b0ll0ck5).
5. matt_the_hat said...
3. freemanphil - please enlighten us more
6. freemanphil said...
I heard this on Bob Chapman's show that is on discount gold and silver trading: http://www.discountgoldandsilvertrading.net/Radio_Show.htm
It has been widely reported that gold is being suppressed. Also, http://www.youtube.com/user/TheBobChapmanChannel also, clipster for whole length shows: http://www.clipser.com/profile.php?member=TheBobChapmanChannel
Here is Max Keiser reporting gold price suppression. Essentially, Goldman Sach's, et al are heavily short on gold because it competes with the paper money they rely on for their power, and they use derivatives at COMEX expirations date to ensure that they cover their shorts. They haven't done as well recently, which forced Barick Gold to end all its gold hedging positions:
Telegraph: "Barrick shuts hedge book as world gold supply runs out"
Here is a blog post listing info about US Govt's gold swap program that is used to suppress gold, because gold competes with federal reserve notes: http://www.campaignforliberty.com/blog.php?view=25861